Crude oil dipped below $20 overnight but this is only one type or grade of Oil WTI ,West Texas intermediate lets look a the Canadian benchmark WCS, Western Canadian Select it is almost a zero!

Now lets look at the Shale Benchmark or at least the Texas Shale benchmark,WTI Midland.This to headed in the wrong direction if you aere a shale producer or in the right direction if you Are Saudi Arabia or Russian Oil Producer.